I don't have the update so i can't help you with battery life
But i have a question. Let's say a game is 800mb. How much of that goes on the card and how much stays on your phones memory?
Data stays on the phone correct?

How much is moved to the SD Card, I'm not too sure, but it seems thats some apps are fully moved and some mostly data.

After updating, my phone got really hot and my battery lasted like 10 hours. I usually get 16-24 hours battery life depending how much I use it. I'm guessing the phone getting hot and minimal battery life is because the software is setting in.

>How much is moved to the SD Card, I'm not too sure, but it seems thats some apps are fully moved and some mostly data.

Was looking at Google Currents, which can have several hundred MB of data. Moving it to the SD card moves some, but not all, of the app to the SD card, but none of that data chunk.
So out of 40 MB for Currents, 26MB of data is on the device. 7 MB of the app went to the SD card and a few kb of data.

Will be interesting to hear if the bulk of the games files are moved over.